Paul Joseph

Tehsildars cannot execute sale deed without informing Huda

by Paul Joseph May 14, 2012

The Haryana Urban Development Authority (Huda) has restricted all tehsildars (block revenue officers) from executing sale and gift deeds without the prior knowledge of the Huda estate officer (EO). A direction issued in this regard on Saturday states that any such deed made without the knowledge of the EO will create confusion in plot ownership records at Huda office. “It has been decided to recommend that a letter may be issued to all the tehsildars to execute the sale deed/gift deed only after a no-objection certificate (NOC) is issued by the concerned EO so as to update the accounts of Huda allottees and avoid incomplete information of allottees on computers,”

Tagged as: gurgaon, real estate

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Akhilesh scraps Maya’s pet project of international airport in Greater Noida

by Paul Joseph May 14, 2012

A high-flying proposal to build a commercial airport in Greater Noida to cater to Delhi and the national capital region (NCR) was finally grounded on Tuesday. Politics seems to have tripped the long-standing plan to have a second airport. Site of the now scrapped Jewar airport in Greater Noida. Chief minister Akhilesh Yadav’s Samajwadi Party (SP) government in Uttar Pradesh scrapped

Tagged as: aviation, financial, greater noida property, india, indian, international airport, wikipedia, yamuna-expressway

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Affordable housing to soon become reality

by Paul Joseph May 14, 2012

With Chief Minister Prithviraj Chavan approving the joint venture policy for the Maharashtra Housing and Area Development Authority (MHADA) this week, the construction of at least a lakh affordable houses is expected to take off in the peripheral areas of the Mumbai Metropolitan Region in the immediate future. The projects are spread across Thane, Kalyan-Dombivli, Vasai-Virar, Panvel and Raigad. Officials said these projects were issued the letter of intent by MHADA almost a year ago but were stuck for lack of a formal approval from the state government. The policy has been framed keeping in mind the urgency of generating public houses on land belonging to private landowners in view

Tagged as: mumbai, real estate

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DLF to start its own fire brigade

by Paul Joseph May 13, 2012

New Delhi: Country’s largest real estate player DLF is all set to start its own fire brigade beginning with Gurgaon and Chennai, making it probably the first private company to dabble into such activities. DLF, which is credited to have established almost the entire Gurgaon — one of the first MNC hubs of the country, will set up at least three fire stations in this NCR city as also in southern city of Chennai, in the next two months. The three stations, mainly to safegauard DLF properties, would have about 120 employees and more such stations could follow going forward. “With the burgeoning urban population, providing secure living spaces should

Tagged as: real estate, real estate developers

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Godrej Properties to focus on residential space

by Paul Joseph May 13, 2012

MUMBAI: Bullish on improvement in the real estate sector in the next couple of months, Godrej Properties, the real estate arm of Godrej Group, plans to continue its focus on residential space, a top company official said. “Though there is negative sentiment among buyers at present, the demand for houses will continue to grow, which is a huge opportunity for developers like us. We will continue to remain very much focused on the residential space,” Godrej Properties (GPL) managing director and chief executive Pirojsha Godrej said. Of the 10 deals that the company signed last fiscal, only one was in the commercial space, at Bandra Kurla Complex. “Going forward, the

Tagged as: real estate, real estate developers

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Indians prefer 2nd-hand property: Study

by Paul Joseph May 13, 2012

Mumbai: While buying a house, majority of the Indians prefer a ready-to-move property than new launches, a recent study has said. “About 74 per cent home buyers across India are negotiating for a ready-to-move property,” real estate market news portal Track2Realty’s survey titled ‘Home Buyer’s Satisfaction Index’ said. The survey says out of the remaining 26 per cent, who opted for new launches for price discounts, as many as 82 per cent were now repenting their decision, mainly due to delays in the project completion. The survey was conducted in Delhi, Mumbai, Kolkata, Bangalore, Kochi, Ahmedabad, Chennai and Patna. About 68 per cent of buyers prefer ready-to-move property because they

Tagged as: real estate, real estate india

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Banks now help you spot that dream home

by Paul Joseph May 13, 2012

The lengthy process of buying your dream home begins with the most critical aspect — identifying the property and while your local broker may have been your dependable man to do that till a few years ago, that is not the case any longer. Most banks and housing finance companies (HFCs) now offer property search services giving you an option to deal with an institution that has benchmarked practices. Lenders such as HDFC, ICICI Home Finance Company and Indiabulls Financial Services have property search divisions that help home buyers identify properties and also organise property visits and help with legal documentation. “The benefits that you get while dealing with an

Tagged as: banking and finance, real estate

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How a big house could become a threat for your retirement planning

by Paul Joseph May 13, 2012

N Pattabhi Ramiah thought of investing in a new house, some years ago when he got a decent sum as his retirement corpus. “The house that I was staying was fetching me around Rs 60 lakhs, I thought of pooling in around Rs 10 lakhs from my retirement corpus and move to larger 2BHK house at Andheri in Mumbai,” he informs. But for Pattabhi (66) and his wife N Giribala (63), the move was just the beginning of his troubles. “Firstly I have to pay more than double of what I used to pay as monthly maintenance. Initially I never realized it. But at times it does becomes a bit

Tagged as: real estate, real estate india

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Housing demand to remain stagnant till economy improves

by Paul Joseph May 13, 2012

Housing demand is expected to remain subdued in short-to-medium term despite cut in key policy rates by RBI, global property consultant CBRE has said. “While the recent rate cut by the RBI has helped generate positive sentiments in the market, stagnancy in demand will continue in the short to medium term unless there is an overall improvement in the economic scenario,” CBRE South Asia Chairman and Managing Director Anshuman Magazine said. RBI had last month cut the repo and reverse repo rates by 50 basis points. In its report ‘India Residential Market View – 2011′, CBRE said the housing market witnessed stagnant demand for most part of the last year.

Tagged as: real estate, real estate india

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Akhilesh scraps Maya projects, SC/ST quota in govt contracts

by Paul Joseph May 13, 2012

The Uttar Pradesh government on Friday scrapped as many 26 welfare schemes and the policy of reservation in government contracts for Scheduled Castes and Tribes, launched by the previous Mayawati government, and approved a proposal to give a monthly unemployment allowance of Rs 1,000 to those above 30 years. The government also made changes in the Ambedkar village development scheme and renamed it after the late Ram Manohar Lohia. Selection of villages for development under the scheme will be made on the basis of certain criteria of backwardness, and not the population of Scheduled Castes, as was the practice earlier. The decisions were taken by the state Cabinet, with Chief

Tagged as: noida, real estate

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